VANCOUVER EAST SEPTEMBER HOUSE MARKET
Attached please find the latest statistics from the Real Estate Board of Greater Vancouver.
The News Release remains hopeful that expected further interest rate cuts will draw shy Buyers into the marketplace and that 2024 will surpass 2023 in sales. Also highlighted is that the competition from a growing inventory is levelling prices, putting Greater Vancouver on the precipice of a market much more conducive to Buyers. September to September, their selection is enhanced by a 12. 8 percent increase in new listings. That adds to the total inventory which is now 31.2 percent higher than September 2023. The fact is though, residential sales are 3.8 percent lower September to September and the composite value of all properties is down 1.8 percent year to year.
The graph shows a 4.4 percent rise from August to September for the average price of Metro Vancouver detached properties. The benchmark price for houses in September 2024 is 0.5 percent more than the previous September. Year to year the volume of detached home sales is down 9.8 percent.
September 2024 versus the previous September, east side house prices are 2.3 percent lower. Year over year Vancouver east detached sales decline 11.8 percent. September to September east side inventory gets a 16.3 percent lift.
From August to September east side house sales do an upward about face of 33.3 percent. Month to month east side inventory is 51.4 percent higher.